As widely expected, the Federal Reserve held its policy rate at 4.25%-4.50% on Wednesday, as the Federal Open Market Committee assesses the economy for evidence that a disinflationary trend is continuing.

The Federal Reserve is widely expected leave its benchmark interest rate steady this week, but economists and market participants will be keeping a close eye on what Fed officials say about the state of the economy and the outlook for rates.

Federal Reserve policymakers voted Wednesday to hold interest rates steady in its first rate decision of the year.